SAN MATEO, Calif., Jan. 12, 2021 /PRNewswire/ — Rakuten-owned Cartera is partnering with Bumped, the company that powers an ownership economy by creating a simple but powerful entry point to investing, to power stock rewards when consumers shop through the newly-launched Bumped app. With over 1,000 ways to earn stock, this partnership empowers consumers to receive fractional shares of stock simply by rewarding their everyday spending, while arming merchants with more diverse rewards strategies that engender loyal and invested customers.
Cartera and Bumped are breaking down barriers to entering the stock market with an innovative loyalty rewards mechanism.
By adding Bumped to its publisher network, Cartera delivers an innovative rewards option to its brand partners that is proven to increase spending and nurture loyalty. Brands that have tested the program are seeing notable changes in customer behavior. Throughout the pilot program, which included more than 80 brands, Bumped found that the average user who was rewarded in stock showed a 43 percent increase in monthly spending, a 1.5x increase in monthly visits, and 23x ROI for cost of reward.
“Consumers are increasingly shifting their loyalties to brands that give back to their customers, and brands are responding by looking for new and creative ways to customize the rewards experience,” says Marc Mazzone, General Manager of Cartera. “Partnering with Bumped is a strategic move to diversify our rewards portfolio and expand our industry footprint, so we can offer brands multiple, effective avenues to build meaningful long-term relationships with loyal and invested customers.”
Today, 55 percent of Americans say that the primary reason they’re not investing is because they “don’t have enough money”. Together, Cartera and Bumped are breaking down barriers to entering the stock market, while giving consumers an innovative new loyalty rewards mechanism that has immediate value and potential to grow over time.
“We’re very excited to be partnering with Cartera to bring our vision for an ownership economy to life,” said David Nelsen, Bumped CEO and Founder. “Their team shares our passion for creating an innovative new reward that can do good for both brands and their customers, while providing the operational support we need to expand and scale. We look forward to working with Cartera — and their expansive portfolio of airlines and brands — to bring this new reward mechanism to market and help more people become owners.”
Bumped is the first of Cartera’s partners to take advantage of its newly launched API solution – a lighter alternative for clients who don’t need the robust benefits of a hosted solution and can benefit from simplified integration requirements. By leveraging the API integration, Bumped has been able to quickly launch its fractional share rewards and scale it to be available to Cartera’s 960 merchants.
Stock rewards are available now through Bumped’s recently launched consumer app, and require little-to-no tech integration for brands that want to participate. To learn more about Bumped’s Cartera-powered stock rewards program, visit www.bumped.com or download the Bumped app in the Apple App Store or Google Play Store.
Rakuten is a leading e-commerce company that enhances the way people shop by offering Cash Back, deals and rewards from more than 3,500 merchants. Founded in 1999, Rakuten has grown to become the go-to shopping destination for consumers, having paid out more than $1.5 billion in Cash Back to its 13 million members. The company also operates ShopStyle, a leading fashion discovery destination, and Cartera Commerce, a top rewards platform for airlines and banks. For more information, visit www.rakuten.com.
Rakuten® is a registered trademark of Rakuten, Inc., registered in the U.S. and other countries. All other trademarks are property of their respective owners. © 2019 Ebates Inc. dba Rakuten. All rights reserved.
Bumped is a tech company on a mission to create an ownership economy. The Bumped app gives consumers the power to turn their everyday spending into free stock ownership, and their suite of tools helps businesses reward their customers in fractional shares of stock. Bumped believes that we all create the economy together, and we all should have the opportunity to benefit from it.
The Bumped app and website are operated by Bumped, Inc. Brokerage services are provided by Bumped Financial LLC, member FINRA /SIPC . More about Bumped Financial LLC on FINRA’s FINRA BrokerCheck website.
Investing in securities involves risk, including possible loss of principal: Not FDIC Insured • No Bank Guarantee • May Lose Value. Past performance is not a guarantee of future results. Nothing on this site should be construed as an offer to purchase or sell securities.
Any market, economic and / or performance data shown is for hypothetical and illustrative purposes only. Data does not represent actual results. Participation is only for investors who understand and agree to the risks inherent in their Bumped Accounts. Only qualifying purchases made according to the terms and conditions are eligible for stock rewards. Bumped does not charge brokerage fees. Bumped reserves the right to restrict or revoke any and all offers at any time.
Investors receive shares of ETFs as rewards. Investors should consider their investment objectives, risks, carefully before investing. This and other information are found in the fund prospectus. Please read the prospectus carefully before you choose to invest.
Rewards are accrued for investment after qualifying purchases but may be reversed if the qualifying transaction is later reversed. Bumped does not assume the risk of market movements for returned items or disqualified transactions.
Bumped Inc., its subsidiaries, agents, and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services, and make no representation as to the completeness, suitability, or quality thereof.
A few notes on fractional shares: they’re typically not transferable between brokerage firms. If you want to transfer your Bumped account, you may have to sell your fractional shares first. Fractional shares can’t be put into certificate form or physically mailed, nor do they have voting rights.
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SOURCE Rakuten Americas